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The Challenges Of The Traditional POS Systems

Updated: Feb 19



The POS is one of the fastest means of sending and receiving payments since it was introduced. One can simply collect cash from the POS system using their debit card. Oftentimes, people gets frustrated when they go to the bank to withdraw and are faced with a long cue, and sometimes gets disappointed when the money gets finished before their turn, all these are the problems and challenges sorrounding the payment process in the banks thereby leaving people no other choice than to patronize the POS system as a means of looking for a better solution.


Over the years, there has been increased in users and market need for the POS machine, more and more people are taking hold of this opportunity to diving into the POS business taking it either as their full time or side hustle since there is high patronages from users.

As more people carries out transaction daily using the POS systems so also has there been complaints from users such as faulty POS systems, delays due to network failure either from the bank or the POS machine, other problems include Insecurity, Inaccurate Reporting, Usage Issues etc


Lets look into these problems as stated above;


1. Purchasing A Faulty POS Systems


Most people who want to venture into this line of business don't take the time to make proper findings of the POS machine in order to decipher a faulty machine and this has caused business owners or POS vendors a lot of fortune or harm in their business with daily POS transactions on the high so does the challenges too. Let's not blame the system alone like I said vendors don't take the time to do their own work before diving into the POS market. Purchasing a faulty machine would give birth to the following problems below


2. Network Failure/Connectivity


Network is a major problem in Nigeria, one needs a strong network connection to carry out their daily task from making calls to browsing on the internet but where there's network failure, there is bound to be some setbacks.


One of the biggest problems of the native POS systems is caused by network failure, when this happens, transactions are often incomplete as the vendors carryout a transfer and the money fail to drop in the recipient account or reverse back to the senders account but shows payment is successful without any solution to both parties thereby leaving the sender no choice than to go to the bank and sort out the issue.


3. Insecurity

POS systems make use of the internet connection in order to carryout transactions, and in regards to this, there is need for security inorder to ward off cyber threats or attacks. POS terminals are common attack surfaces, this is because they do not meet PCI compliance safety standards, which makes them prone to get hacked easily by internet fraudsters.


Older POS machine have weak security due to network downtime, slow processing and other POS problems, whenever the vendor swipes in a card, there's a transmission of data during the payment process to the POS system.


A vendor maybe responsible for everything that concerns the Point Of Sale Process and without knowledge of how best to manage the POS systems, tools being used or how to resolve cyberthreats, connectivity issues, or non-compliance, which in most cases results in financial losses.


4. Inaccurate Report

Report that doesn't add up or takes accurate record of your daily transactions is one of the challenges of the native POS system, it is very important to investigate before purchasing any systems to avoid buying already faulty product, sometimes, people are left with no choice than to opt for a cheaper POS system which is in a bad condition already. With sapaNO E-POS device, data such as number of withdrawals, date, time and receipt will be collected and stored automatically on the blockchain technology and retrieve when needed.


5. Usage Issues

Most vendors, staffs or business owners often encountered difficulties especially if it's their first time Operating the system. This is where training comes in, taking your time to study understand with your staff how the POS system work and how the operation procedure would prevent present/future mistakes or errors from being made


Our Solution


POS machines are unable to discern the difference between a correct and fraudulent transaction, with these previously mentioned problems; we introduce sapaNO Protocol onsensus Algorithm (SPCA) which in POS transactions is applied every few seconds by all nodes, to maintain security, correctness and decentralization. sapaNO revises the existing POS consensus schemes to improve decentralization and fairness.


Rewards

With sapaNO E-POS there'll be no transactional fees, you earn from every transaction made directly or indirectly.


CONCLUSION

POS users keeps increasing daily as they seek for better payment methods such as POS services to carryout their daily transactions and run their day to day activities while aiding productivity in their personal and work life



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